NASDAQ : ZD
Ziff Davis, Inc. — Financial statements
Communication Services · Advertising Agencies · United States
Last price 54.79 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.88B
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Financial statements
Ziff Davis, Inc. (ZD) reported revenue of 1.44B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.44B | 1.45B | 1.40B | 1.36B | 1.39B | 1.42B |
| Cost of Revenue | 215.56M | 206.60M | 200.32M | 185.65M | 184.55M | 188.05M |
| Gross Profit | 1.22B | 1.24B | 1.20B | 1.18B | 1.21B | 1.23B |
| Selling, General & Admin | 752.82M | 756.19M | 723.15M | 683.29M | 675.22M | 951.05M |
| Research & Development | 61.85M | 61.96M | 67.37M | 68.86M | 74.09M | 78.87M |
| Operating Expenses | 1.04B | 1.05B | 1.00B | 989.12M | 982.72M | 1.03B |
| Operating Income | 186.14M | 197.83M | 198.92M | 189.26M | 223.74M | 198.75M |
| Interest Expense | -25.80M | -25.91M | -13.99M | -20.03M | -33.84M | -72.02M |
| Earnings From Equity Investments | -14.69M | -7.95M | 11.22M | -9.33M | -7.73M | 35.84M |
| Currency Exchange Gain (Loss) | -9.50M | -5.60M | -1.00M | -3.90M | 8.20M | 2.00M |
| Other Non Operating Income (Expenses) | 7.59M | -293.00K | 5.97M | -5.57M | 237.00K | -707.00K |
| EBT Excluding Unusual Items | 143.74M | 158.08M | 201.12M | 150.43M | 190.60M | 163.86M |
| Impairment of Goodwill | -72.42M | -17.58M | -85.27M | -56.85M | -27.37M | -32.63M |
| Gain (Loss) on Sale of Investments | -16.89M | -12.55M | -7.65M | -28.14M | -53.89M | 281.81M |
| Gain (Loss) on Sale of Assets | -57.99M | -57.99M | -3.78M | -21.80M | ||
| Asset Writedown | -1.80M | |||||
| Other Unusual Items | 1.14M | 2.83M | 200.00K | 14.08M | -4.05M | |
| Pretax Income | -4.22M | 72.80M | 104.42M | 65.64M | 123.42M | 387.20M |
| Income Tax Expense | 25.48M | 25.45M | 41.37M | 24.14M | 57.96M | -14.20M |
| Earnings From Continuing Operations | -29.69M | 47.35M | 63.05M | 41.50M | 65.47M | 401.39M |
| Earnings From Discontinued Operations | 673.19M | -1.71M | 95.32M | |||
| Net Income | 643.49M | 47.35M | 63.05M | 41.50M | 63.76M | 496.71M |
| Preferred Dividends & Other Adjustments | 2.00K | 20.00K | 326.00K | |||
| Net Income to Common | 643.49M | 47.35M | 63.05M | 41.50M | 63.74M | 496.39M |
| Shares Outstanding (Basic) | 38.40M | 40.98M | 44.46M | 46.40M | 46.95M | 45.89M |
| Shares Outstanding (Diluted) | 38.46M | 41.10M | 44.52M | 46.46M | 47.03M | 47.86M |
| EPS (Basic) | 16.76 | 1.16 | 1.42 | 0.89 | 1.36 | 10.82 |
| EPS (Diluted) | 16.76 | 1.15 | 1.42 | 0.89 | 1.35 | 10.37 |
| Free Cash Flow | 316.73M | 287.87M | 283.68M | 211.23M | 230.29M | 402.80M |
| Free Cash Flow Per Share | 8.23 | 7.00 | 6.37 | 4.55 | 4.90 | 8.42 |
| Gross Margin | 85.01% | 85.76% | 85.71% | 86.39% | 86.73% | 86.73% |
| Operating Margin | 12.94% | 13.63% | 14.19% | 13.88% | 16.09% | 14.03% |
| Profit Margin | 44.75% | 3.26% | 4.50% | 3.04% | 4.58% | 35.04% |
| Free Cash Flow Margin | 22.02% | 19.84% | 20.24% | 15.49% | 16.56% | 28.43% |
| EBITDA | 407.79M | 426.52M | 410.84M | 426.23M | 457.13M | 448.04M |
| EBITDA Margin | 28.36% | 29.39% | 29.31% | 31.25% | 32.86% | 31.62% |
| D&A For EBITDA | 221.66M | 228.69M | 211.92M | 236.97M | 233.40M | 249.29M |
| EBIT | 186.14M | 197.83M | 198.92M | 189.26M | 223.74M | 198.75M |
| EBIT Margin | 12.94% | 13.63% | 14.19% | 13.88% | 16.08% | 14.03% |
| Effective Tax Rate | 34.95% | 39.62% | 36.78% | 46.96% | ||
| Advertising Expenses | 119.40M | 114.80M | 120.80M | 128.80M | 143.50M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.61B | 607.01M | 505.88M | 737.61M | 652.79M | 694.84M |
| Short-Term Investments | 2.10M | 27.11M | 58.42M | 229.20M | ||
| Cash & Short-Term Investments | 1.61B | 607.01M | 507.98M | 764.72M | 711.21M | 924.04M |
| Accounts Receivable | 405.79M | 660.26M | 645.67M | 337.70M | 304.74M | 316.34M |
| Other Receivables | 1.06M | 6.96M | 14.55M | |||
| Receivables | 406.85M | 667.22M | 660.22M | 337.70M | 304.74M | 316.34M |
| Prepaid Expenses | 59.40M | 65.57M | 91.47M | 83.87M | 65.12M | 59.49M |
| Other Current Assets | 12.40M | 30.60M | 12.40M | 4.70M | 3.20M | 800.00K |
| Total Current Assets | 2.08B | 1.37B | 1.27B | 1.19B | 1.08B | 1.30B |
| Property, Plant & Equipment | 171.48M | 235.50M | 223.47M | 212.73M | 218.82M | 216.83M |
| Long-Term Investments | 99.94M | 93.23M | 158.19M | 140.91M | 127.87M | 122.59M |
| Goodwill | 1.29B | 1.61B | 1.58B | 1.55B | 1.59B | 1.53B |
| Other Intangible Assets | 293.77M | 344.21M | 425.75M | 325.41M | 462.81M | 572.73M |
| Long-Term Deferred Tax Assets | 5.44M | 5.29M | 7.49M | 8.73M | 8.52M | 5.92M |
| Other Long-Term Assets | 51.63M | 7.14M | 37.12M | 46.19M | 39.49M | 20.09M |
| Total Assets | 4.00B | 3.66B | 3.70B | 3.47B | 3.53B | 3.77B |
| Accounts Payable | 145.96M | 151.29M | 164.35M | 123.26M | 120.83M | 130.98M |
| Accrued Expenses | 82.42M | 89.01M | 97.67M | 93.68M | 81.72M | 95.64M |
| Current Portion of Long-Term Debt | 148.94M | 148.69M | 54.61M | |||
| Current Portion of Leases | 7.10M | 7.42M | 8.67M | 15.80M | 22.15M | 27.16M |
| Current Income Taxes Payable | 185.64M | 9.51M | 19.71M | 14.46M | 19.71M | 3.15M |
| Current Unearned Revenue | 126.97M | 189.99M | 199.66M | 184.55M | 187.90M | 185.57M |
| Other Current Liabilities | 266.30M | 479.05M | 409.58M | 89.00K | 133.00K | 130.00K |
| Total Current Liabilities | 963.33M | 1.07B | 899.65M | 431.83M | 432.45M | 497.24M |
| Long-Term Debt | 718.70M | 717.82M | 864.28M | 1.00B | 999.05M | 1.04B |
| Long-Term Leases | 19.80M | 17.79M | 21.80M | 16.63M | 34.00M | 53.71M |
| Long-Term Unearned Revenue | 5.90M | 18.95M | 5.50M | 8.17M | 9.10M | 14.84M |
| Long-Term Deferred Tax Liabilities | 20.77M | 41.41M | 46.02M | 45.50M | 79.01M | 108.98M |
| Other Long-Term Liabilities | 32.06M | 38.81M | 56.20M | 74.58M | 87.05M | 91.76M |
| Total Liabilities | 1.76B | 1.91B | 1.89B | 1.58B | 1.64B | 1.80B |
| Common Stock | 350.00K | 384.00K | 428.00K | 461.00K | 473.00K | 474.00K |
| Additional Paid-In Capital | 436.45M | 472.72M | 491.89M | 472.20M | 439.68M | 509.12M |
| Retained Earnings | 1.87B | 1.34B | 1.40B | 1.49B | 1.54B | 1.52B |
| Comprehensive Income & Other | -67.05M | -57.07M | -82.47M | -71.62M | -85.37M | -57.22M |
| Shareholders' Equity | 2.24B | 1.75B | 1.81B | 1.89B | 1.89B | 1.97B |
| Total Liabilities & Equity | 4.00B | 3.66B | 3.70B | 3.47B | 3.53B | 3.77B |
| Total Debt | 894.54M | 891.71M | 894.75M | 1.03B | 1.06B | 1.17B |
| Net Cash (Debt) | 711.57M | -284.70M | -386.76M | -269.02M | -343.99M | -247.45M |
| Net Cash Per Share | 18.50 | -6.93 | -8.69 | -5.79 | -7.31 | -5.17 |
| Filing Date Shares Outstanding | 34.29M | 37.65M | 42.85M | 46.07M | 47.26M | 47.27M |
| Total Common Shares Outstanding | 34.96M | 38.38M | 42.85M | 46.08M | 47.27M | 47.44M |
| Working Capital | 1.12B | 295.45M | 372.42M | 759.16M | 651.82M | 803.44M |
| Book Value Per Share | 64.00 | 45.69 | 42.26 | 41.08 | 40.04 | 41.48 |
| Tangible Book Value | 652.68M | -198.17M | -195.12M | 21.53M | -161.68M | -136.45M |
| Tangible Book Value Per Share | 18.67 | -5.16 | -4.55 | 0.47 | -3.42 | -2.88 |
| Machinery | 667.84M | 551.60M | 505.40M | 425.16M | 344.04M | |
| Leasehold Improvements | 8.99M | 7.33M | 9.78M | 8.61M | 8.29M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 643.49M | 47.35M | 63.05M | 41.50M | 63.76M | 496.71M |
| Depreciation & Amortization | 221.66M | 228.69M | 211.92M | 236.97M | 233.40M | 249.29M |
| Loss (Gain) From Sale of Assets | -802.61M | 57.99M | 3.78M | 21.80M | ||
| Asset Writedown & Restructuring Costs | 72.42M | 17.58M | 85.27M | 56.85M | 27.37M | 32.63M |
| Loss (Gain) From Sale of Investments | 16.89M | 12.55M | 7.65M | 28.14M | 53.89M | -281.81M |
| Loss (Gain) on Equity Investments | 14.69M | 7.95M | -11.22M | 9.33M | 7.73M | -35.84M |
| Stock-Based Compensation | 47.34M | 44.93M | 40.91M | 31.92M | 26.60M | 25.25M |
| Provision & Write-off of Bad Debts | 5.01M | 4.03M | 2.90M | 2.81M | -255.00K | 8.74M |
| Other Operating Activities | -1.78M | 13.20M | -4.30M | -13.92M | -10.02M | 40.12M |
| Change in Accounts Receivable | 49.02M | -8.38M | -153.12M | -35.37M | 14.95M | -17.57M |
| Change in Accounts Payable | -18.05M | 2.58M | 171.28M | 9.42M | -20.25M | |
| Change in Unearned Revenue | 2.35M | -4.58M | 5.04M | -6.80M | -20.96M | 14.28M |
| Change in Income Taxes | 225.83M | |||||
| Change in Other Net Operating Assets | -18.22M | -16.80M | -32.85M | -40.88M | -39.76M | -46.07M |
| Operating Cash Flow | 448.30M | 407.07M | 390.31M | 319.96M | 336.44M | 516.54M |
| Capital Expenditures | -131.57M | -119.20M | -106.64M | -108.73M | -106.15M | -113.74M |
| Cash Acquisitions | -25.02M | -67.34M | -217.57M | -9.49M | -104.09M | -141.15M |
| Divestitures | 1.14B | 3.58M | 7.86M | 48.88M | ||
| Investment in Securities | 2.42M | 36.87M | 19.45M | -8.68M | -10.47M | 6.07M |
| Other Investing Activities | 78.00K | 338.00K | -565.00K | -503.00K | -50.00K | 259.03M |
| Investing Cash Flow | 983.56M | -145.75M | -297.45M | -127.41M | -220.77M | 59.09M |
| Long-Term Debt Issued | 112.29M | 485.00M | ||||
| Total Debt Issued | 112.29M | 485.00M | ||||
| Long-Term Debt Repaid | -134.99M | -166.90M | -512.39M | |||
| Total Debt Repaid | -134.99M | -166.90M | -512.39M | |||
| Net Debt Issued (Repaid) | -134.99M | -54.62M | -27.39M | |||
| Issuance of Common Stock | 6.27M | 6.54M | 8.37M | 8.73M | 9.58M | 12.17M |
| Repurchase of Common Stock | -278.02M | -173.79M | -185.18M | -108.53M | -78.29M | -78.33M |
| Other Financing Activities | -5.44M | -3.04M | -9.20M | -14.99M | -17.50M | -19.54M |
| Financing Cash Flow | -277.19M | -170.29M | -320.99M | -114.79M | -140.83M | -113.09M |
| Foreign Exchange Rate Adjustments | -5.82M | 10.11M | -3.60M | 7.06M | -16.89M | -10.35M |
| Net Cash Flow | 1.15B | 101.13M | -231.73M | 84.82M | -42.05M | 452.19M |
| Free Cash Flow | 316.73M | 287.87M | 283.68M | 211.23M | 230.29M | 402.80M |
| Free Cash Flow Margin | 22.02% | 19.84% | 20.24% | 15.49% | 16.56% | 28.43% |
| Free Cash Flow Per Share | 8.23 | 7.00 | 6.37 | 4.55 | 4.90 | 8.42 |
| Levered Free Cash Flow | 529.46M | 290.44M | 398.91M | 218.45M | 270.93M | 268.46M |
| Unlevered Free Cash Flow | 545.58M | 306.64M | 407.65M | 230.97M | 292.08M | 313.48M |
| Cash Interest Paid | 33.43M | 34.62M | 28.86M | 38.65M | 36.17M | |
| Cash Income Tax Paid | 19.49M | 48.61M | 68.73M | 64.59M | 59.54M | |
| Change in Working Capital | 240.94M | -27.19M | -9.65M | -73.64M | -66.02M | -49.36M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.88B | 1.39B | 2.32B | 3.09B | 3.73B | 5.35B |
| Enterprise Value | 1.17B | 1.78B | 2.82B | 3.40B | 4.12B | 6.59B |
| Last Close Price | 54.79 | 35.15 | 54.34 | 67.19 | 79.10 | 110.86 |
| PE Ratio | 3.27 | 29.32 | 36.84 | 74.45 | 58.57 | 10.77 |
| Forward PE | 10.08 | 4.74 | 7.60 | 10.25 | 11.19 | 15.37 |
| PS Ratio | 1.31 | 0.96 | 1.66 | 2.27 | 2.68 | 3.77 |
| PB Ratio | 0.86 | 0.79 | 1.28 | 1.63 | 1.97 | 2.72 |
| P/TBV Ratio | 2.88 | 143.53 | ||||
| P/FCF Ratio | 5.93 | 4.82 | 8.19 | 14.63 | 16.21 | 13.27 |
| P/OCF Ratio | 4.19 | 3.41 | 5.95 | 9.66 | 11.10 | 10.35 |
| PEG Ratio | 0.69 | 1.08 | 1.14 | 1.07 | 1.02 | |
| EV/Sales Ratio | 0.81 | 1.23 | 2.02 | 2.49 | 2.96 | 4.66 |
| EV/EBITDA Ratio | 2.86 | 4.18 | 6.88 | 7.98 | 9.00 | 14.72 |
| EV/EBIT Ratio | 6.27 | 9.01 | 14.20 | 17.96 | 18.40 | 33.18 |
| EV/FCF Ratio | 3.68 | 6.19 | 9.96 | 16.10 | 17.87 | 16.37 |
| Debt / Equity Ratio | 0.40 | 0.51 | 0.49 | 0.55 | 0.56 | 0.59 |
| Debt / EBITDA Ratio | 2.15 | 2.05 | 2.15 | 2.37 | 2.25 | 2.44 |
| Debt / FCF Ratio | 2.82 | 3.10 | 3.15 | 4.89 | 4.58 | 2.91 |
| Net Debt / Equity Ratio | -0.32 | 0.16 | 0.21 | 0.14 | 0.18 | 0.13 |
| Net Debt / EBITDA Ratio | -1.75 | 0.67 | 0.94 | 0.63 | 0.75 | 0.55 |
| Net Debt / FCF Ratio | -2.25 | 0.99 | 1.36 | 1.27 | 1.49 | 0.61 |
| Asset Turnover | 0.38 | 0.39 | 0.39 | 0.39 | 0.38 | 0.38 |
| Quick Ratio | 2.09 | 1.19 | 1.30 | 2.55 | 2.35 | 2.50 |
| Current Ratio | 2.16 | 1.27 | 1.41 | 2.76 | 2.51 | 2.62 |
| Return on Equity (ROE) | -1.46% | 2.66% | 3.40% | 2.19% | 3.39% | 25.25% |
| Return on Assets (ROA) | 3.09% | 3.36% | 3.46% | 3.38% | 3.83% | 3.34% |
| Return on Invested Capital (ROIC) | 10.28% | 6.08% | 5.51% | 5.44% | 5.33% | 8.06% |
| Return on Capital Employed (ROCE) | 6.10% | 7.60% | 7.10% | 6.20% | 7.20% | 6.10% |
| Earnings Yield | 30.59% | 3.41% | 2.71% | 1.34% | 1.71% | 9.29% |
| FCF Yield | 16.86% | 20.73% | 12.21% | 6.84% | 6.17% | 7.54% |
| Buyback Yield / Dilution | 9.90% | 7.69% | 4.18% | 1.19% | 1.75% | -1.59% |
| Total Shareholder Return | 9.90% | 7.69% | 4.18% | 1.19% | 1.75% | -1.59% |